๐จ FETCH.AI - Bullish Throwback Price Targets for FET #fetchai #altcoins #fetchai #FETCRYPTO๐จ๐
TLDRChase, a level one CMT and full-time trader, discusses Fetch AI as a top pick, highlighting its potential growth based on Fibonacci extension analysis. He mentions the current price movement, targets at 2618 and 3618 levels, and the possibility of a market cap reaching $1-2 billion. Chase also shares his personal strategy, considering buying at lower levels, and provides a broader perspective on Fetch AI's long-term potential, comparing it to other top cryptocurrencies.
Takeaways
- ๐ Chase, a level one CMT and full-time trader, discusses Fetch AI as a top pick with potential for growth.
- ๐ Fetch AI has shown a significant move up, breaking through the 2618 Fibonacci extension level.
- ๐ฏ The next target for Fetch AI is the 3618 level, around the 250 price point.
- ๐ The EMA 8 is currently just under 160, with less than 10% to reach the next target.
- ๐ The script mentions a pattern of consolidation followed by upward moves, suggesting a healthy market behavior.
- ๐ Despite potential short-term tiredness, the bigger picture remains positive for Fetch AI.
- ๐ The 21-week EMA provides a long-term perspective, showing Fetch AI's potential resilience.
- ๐ The macro scale Fibonacci extension suggests a possible market cap of $1 to $2 billion for Fetch AI.
- ๐ A more conservative target for Fetch AI's market cap is set between $3 to $4.5 billion, with a potential 9-10x return from current prices.
- ๐๏ธ The 'Car of the Day' segment highlights the 1957 Mercedes 300 SL, which sold for over 2 million USD at an auction.
Q & A
What is the speaker's profession and qualification?
-The speaker, Chase, is a level one CMT (Chartered Market Technician) and a full-time trader.
Which cryptocurrency is the focus of the discussion?
-The focus of the discussion is Fetch AI.
What was the price of Fetch AI when it was first mentioned in the discussion?
-Fetch AI was first mentioned at a price of 19 cents.
What is the next target level for Fetch AI according to the Fibonacci extension?
-The next target level for Fetch AI is the 3618 level, which is around the 250 price point.
What is the current price of Fetch AI relative to the EMA 8?
-As of the current prices, Fetch AI is just under 160, which is less than 10% away from the EMA 8.
What is the significance of the 21-week Fibonacci scale for Fetch AI?
-The 21-week Fibonacci scale is used to assess the long-term trend and potential support levels for Fetch AI.
What is the speaker's personal strategy regarding Fetch AI's price movement?
-The speaker plans to buy Fetch AI if the price drops to the 1618 or 105 level, considering it a good area for investment.
What is the potential market cap that the speaker believes Fetch AI could reach?
-The speaker believes Fetch AI could potentially reach a market cap of 15 to 20 billion dollars.
What is the long-term macro scale target for Fetch AI?
-The long-term macro scale target for Fetch AI is the 3618 level, which corresponds to a potential price of $16.
What is the car of the day mentioned in the script?
-The car of the day mentioned is a 1957 Mercedes 300 SL.
What was the auction price for the 1957 Mercedes 300 SL?
-The auction price for the 1957 Mercedes 300 SL was over 2 million US dollars.
Outlines
๐ Crypto Market Analysis: Fetch.ai Potential
This paragraph discusses the potential of Fetch.ai (FET) in the cryptocurrency market. The speaker, Chase, a level one CMT and full-time trader, shares his analysis based on Fibonacci extension levels, starting from the swing high in December and the swing low in February. He highlights the recent price movement, noting the breakthrough at the 2618 level and the next target at the 3618 level around 250. The speaker also mentions the importance of the 8-week EMA (Exponential Moving Average) as a support level and discusses the possibility of a price consolidation before a continued upward movement. He emphasizes the significance of market cap and the fundamentals of Fetch.ai, suggesting a potential market cap increase to $1.5 to $2 billion, which could lead to a significant return on investment for investors who enter at the current price level.
๐ Car of the Day: 1957 Mercedes-Benz 300SL
In this paragraph, the speaker transitions from cryptocurrency to classic cars, specifically the 1957 Mercedes-Benz 300SL. He shares his experience at an auction event, The Concourse d'Elegance, where the car was sold for over 2 million US dollars. The speaker emphasizes the value retention and appreciation of such classic cars, suggesting they are a good investment for the super-rich as they tend to increase in value over time. The paragraph ends with a brief mention of Chainlink, another cryptocurrency asset.
Mindmap
Keywords
๐กFay crypto
๐กCMT
๐กFetch AI
๐กFibonacci extension
๐กEMA (Exponential Moving Average)
๐กMarket cap
๐กVolatility
๐กConsolidation
๐กMacro scale
๐กROI (Return on Investment)
๐กTop 20 coins
Highlights
Chase, a level one CMT and full-time trader, discusses Fetch AI as a top pick.
Fetch AI has been mentioned since it was at 19 cents.
Private alerts group is available for subscribers on Patreon.
Fibonacci extension analysis is being used for Fetch AI's price movement.
The next target for Fetch AI is the 3618 level at around $2.50.
The EMA 8 is currently just under $1.60, with less than 10% to go.
Volatility and signs of exhaustion are seen as positive indicators.
A potential downside scenario is discussed, but the bigger picture is not lost.
The 21-week EMA is a key level to watch for potential buying opportunities.
The first target to watch is $1.17 if the price is above the 8-week EMA.
The next short-term target is $2.58, and then $3.41 on a larger scale.
On the macro scale, the price could potentially reach $16, with a market cap of $15-20 billion.
Fetch AI's fundamentals are strong, and it could potentially reach a $2 billion market cap.
The transcript also includes a discussion on the car of the day, a 1957 Mercedes 300 SL.
The car auctioned for over $2 million, showcasing the value of such vehicles.
